Another name to describe the vaginal discharge of women beyond their 40's. Usually has little or no odor to it, but can sometimes become noticably scented after having accumulated in granny panties for a 6-12 hours, especially in long sessions of bingo and playing slots at the casino.
"So I went to Foxwoods the other night, and dude, the hag next to me was funky! Must have been all the cougar juice she left on the seat after getting up and walking away."
When you hold your cum for a couple weeks; then finally splooge and it flies out of your wang like a pouncing cougar and you scream like a snarling beast from the woods while you scratch the walls because of the intense cat-like orgasm. Hence, Cougar-juice.
I had been waiting for this night; and I shot my steaming cougar juice in Shirley's face. She almost went blind.